Some Good News today, which Existing Home Sales jumped much higher than expectations; add a 4% Year over Year increase to the National Median Home Price too. The Stock Market has been a bit shaky this morning with the DJIA down for most of the morning, while the other indices have been up. Traders still watching the EU, which the Euro is still taking a bit of a beating. News to watch for the week include: Durable Goods Orders, New Home Sales, GDP, Initial Jobless Claims and Personal Consumption Expenditure (PCE -Fed's favorite gauge for inflation). Friday, the Trader's bought in for Profit Taking, which left Home loan rates down for the day, but still up for the week. Today, Mortgage rates started the day a little higher than Friday's close, but is currently testing the Trend Line; so Mortgage Interest rates are about the same as Friday's Close (pending when Lender re-priced on Friday). Interest rates are still very good.
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